Saudi Arabia Two Wheeler Market, By Vehicle Type, By Engine Capacity, By Type of Sales and Forecast 2027
Posted by arshiyashaikh on June 17th, 2022
Saudi Arabia Two Wheeler Market is projected to grow at a CAGR of 8.97% in terms of value to reach USD73.63 million by 2027 due to the growing e-commerce industry, increasing disposable income, and removal of the ban on women riding vehicles. Also, the rise in the market players offering better performing and fuel-efficient motorcycles and the high demand for motorcycles for recreational and adventurous activities among consumers are accelerating the growth of Saudi Arabia two-wheeler market over the forecast period.
Riders prefer to use two-wheelers as they are easy to navigate through dense traffic and are affordable with low maintenance costs. The Government of Saudi Arabia removed the ban on women driving in 2017. Women have shown interest in riding two-wheelers as they give a sense of empowerment to women. The growing population's demand to ride two-wheeler vehicles, coupled with advantages offered by two-wheelers such as better fuel economy, low maintenance, and ownership cost, is expected to bolster the growth of Saudi Arabia two-wheeler market in the next five years. Also, ride-hailing and ride-sharing services are witnessing massive demand among consumers due to high internet penetration and changing preferences of consumers to avail services from online channels. Two-wheeler vehicles offer a cost-effective solution to consumers in comparison to riding four-wheeler vehicles.
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Joined: February 5th, 2019
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